Morpheus Labs - making it easier for enterprises to choose blockchain
This is a technical article about Morpheus Labs Blockchain Platform as a Service. You can also check out this shorter article if you are in a hurry: https://medium.com/@norwayconfidentialgroup/how-to-introduce-blockchain-into-your-own-company-e5ef989dc2f1
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Value For Every Dollar
Small and big enterprises wants their business to operate in a cost-efficient manner. In fact, the future is all about making the most out of every dollar you invest in the business. This is a question an enterprise may wonder;
Can we operate more efficient, or expand our business to grow using blockchain technology?
One solution to this question is using a private or public distributed ledger (blockchain) for storing data in a decentralized manner. This way of storing data is more secure (distributed) and transparent. Data saved in the ledger is forever stored in the ledger, and cannot be altered after each block in the ledger has been saved. This provides businesses and customers trust in the data stored, and this can provide value for businesses that require trust. One example of using this for transparent trust and security is using it for elections. Each vote is registered on the ledger, and cannot be altered. In the end, full transparency is provided to prevent false results. It can also be used to track the product lifecycle from supplier to the end consumer.
It all started with Satoshi Nakamoto, but as the years have gone by, different blockchains have been created. The Bitcoin blockchain is often referred to as 1st generation blockchain. Vitalik Buterin saw the limitations of the original blockchain and created Ethereum, often referred to as 2nd generation blockchain. In 2018, lots of people speak about the 3rd generation blockchain with ArcBlock, Zilliqa, Aion, and EOS in the front. For enterprises, this creates a new question;
Which blockchain are most suited to our needs?
To answer this question, Morpheus Labs has created a solution. Instead of spending time and money discovering which blockchain to use, businesses can use Morpheus Labs’ platform. It supports several blockchain technologies such as HyperLedger, Multichain, Ripple, and Ethereum, and they have skilled employees ready to give advice and help you out in the startup process. The enterprises can set up a test environment in a very short time, making it much easier to develop different applications and to later test their applications on different platforms to find out which blockchain technology that is optimal for their use case.
The alternative is to develop your own blockchain infrastructure from scratch, but this requires more resources and competence. Being a pioneer in the market may make your company the next Amazon or Google, while being late might make you end up being the next Bing or Kodak. Failing is expensive, especially if you start from scratch and spend months developing a product. On the Morpheus Labs platform it is easy to start, change, and modify — and with the existing applications available on the platform, businesses will save both time and money.
What is Morpheus Labs
In the mid 90’s few people knew how to create websites, and even fewer understood that Internet would be so central in the future. Since then, tools have been made to help people without coding skills create websites. As a result, people all around the globe, with or without coding skills, create thousands of new websites daily using platforms such as Wordpress, Wix, and Joomla.
In 2018, few people have an understanding of the blockchain technology. It is still in its infancy, and few people are able to grasp the role blockchain will have in the future. But, it is a growing industry, and pioneers want to understand more what it is about, in order to take advantage of the technology in their own environments.
The challenge is, however, how do you get started? It has been said: “The hardest part of any important task is getting started on it in the first place.” That is true about a lot of things, and it is very true when it comes to blockchain. Where to start?
We believe that Morpheus Labs will become to blockchain what WYSIWYG-editors (what you see is what you get) were to the development of Internet sites at the end of the 20th century. That is, a user-friendly web development experience, which drastically lower the barrier to entry. In other words, Morpheus Labs is here to make blockchain available to the people looking for a way to enter the blockchain universe.
The Morpheus Labs platform
Morpheus Labs has developed an enterprise-grade ‘blockchain platform as a service’ (BPaaS) where users can develop, test and operate their own distributed ledger (blockchain). It is easy to get started on the platform, especially because of the platform’s very own application store.
Here you can browse and purchase a ready-to-use product or sell and promote your product to others for MITx tokens. Subscription, token transfer and proof of reputation is handled using a smart contract on the Ethereum network.
The finished application can be operated by decentralized hosted network nodes, which are administered through the Morpheus Labs platform. Morpheus Labs also offers consultancy in the planning and deployment stages of the process if needed.
The Figure below showcases the platform architecture, as well as supported networks.
The initial idea to create Morpheus Labs was accepted in the Singaporean Government startup (venture catalyst) SGInnovate in 2016. From there the team created a MVP that was ready in January 2018.
Who is Morpheus Labs targeting?
Let’s introduce Lisa. She makes organic ice cream using milk from local cows. Each ice cream can be tracked to a specific cow, and Lisa wants to keep this ledger on a blockchain. Across town is Corporate BIG. They have decided to renew their strategy to stay ahead in their game. A new department has been given a schedule and budget to put their entire logistics tracking in a distributed ledger. The newly created department and Lisa have something in common; none of them have the resources or experience to start from scratch and develop the framework for their distributed ledger. This is where Morpheus Labs can help both of them. By utilizing Morpheus Labs’ platform they can be up and running with a test environment in a short time, and develop their final solution in stages all through the platform. It also takes care of the scaling, with distributed hosting of network nodes to run the blockchain.
The MITx Token
What is the purpose of the MITx token? Is it worth staking, keeping and holding?
The enterprises and businesses using the Morpheus Labs Blockchain platform can pay for the services using the MITx token. There will, in most situations, be an initial cost as users sign up for the Morpheus Labs platform. This fee will be paid using the MITx tokens. As you use the platform over time, you will later use the MITx token to pay a monthly fee for the subscription.
On the Morpheus Labs platform, there are several applications already made and available for purchase. App creators can earn money (tokens), while others pay to use them. Morpheus Labs will earn a commission on application purchases taking place on the platform.
Proof of Alliance
In Proof-of-Stake (PoS) the token holders earn rewards for holding their tokens in their wallet. Morpheus Labs takes it one step further and introduces Proof-of-Alliance (PoA) where there is another dimension to the PoS; the longer you stake your tokens in your wallet, the more rewards you get. This incentivizes token holders to stake their tokens for longer period of time.
Considering all the possibilities given with the MITx tokens, the rewards token holders get for holding them, and the expected exponential growth when it comes to usage, we believe that the future is bright for MITx token holders.
The Morpheus Labs team is highly skilled with long experience in the field of technology. Most of them met taking courses on the Massachusetts Institute of Technology (MiT). The team is led by Chuang Pei-Han (CEO and Founder), an entrepreneur with experience from several industries, including the banking- and the travel industry.
Other important members of the team are blockchain-speaker Branson Lee, a well-known business developer who earlier worked for LinkedIn. Branson is the co-founder of Morpheus Labs.
Dorel D. Burcea is the Chief Information Officer who leads the overall tech strategy and platform development (BPaaS) at Morpheus Labs. Within the team, we also find CTO Bruce Lu Yang, who has worked several years for IBM with cloud application development and technology innovation in various industries. The last one we would like to highlight is the newly hired Head of Marketing Grace Lim. She has several years of experience in the marketing industry. We think hiring Grace is showing that this team has a dynamic forward motion, and they are soon ready to take enterprises into the world of blockchain.
For more information about the rest of Morpheus Labs team talents, visit the Morpheus Labs website.
As we all know, having great strategic partners and networks is getting more and more important to distinguish the good from the bad. Morpheus Labs have already acquired great partnerships with other players in the crypto space, along with various more traditional companies.
Blockchain 3.0 event in Singapore
Morpheus Labs co-hosted a blockchain event in Singapore on June 29th. At this event, we were introduced to a total of three of Morpheus Labs’ strategic partners. These three were Sure International, Quarkchain and NEM Foundation. Quarkchain and NEM Foundation co-hosted the event and were represented by Quarkchain founder and CEO, Qi Zhou together with NEM regional director, Stephen Chia.
Sure International (https://international.sure.com/)
This company is a telecommunications supplier in the middle east and will work as a strategic partner to be able to supply this market with their blockchain cloud solutions.
Having recently completed their successful ICO, Quarkchain will serve as a valuable partner for Morpheus Labs and vice versa. There was a lot of hype around the Quarkchain project, and with good reason with their sharding solution which allows up to 100.000 transactions per second. Quarkchain CEO, Qi Zhou, said that “they would like to work together with Morpheus Labs to build next-generation scalable dApps that could serve massive users”.
The NEM foundation is an international network for entrepreneurs, IT, trading, academia and others. They aim to provide their blockchain platform to enhance enterprise whilst being run by the people, for the people. Regional director, Stephen Chia said the partnership with Morpheus Labs will be key to achieve this.
These are just a few of Morpheus Labs’ partners and it is our opinion that they have a clear strategy regarding picking their main partners. Some of their other partners and clients are CampFlex, Proline, Gazeru, Momentum Works and MQ Studios.
Technical Road Map
As far as their roadmap, the Morpheus Labs team has come half the way in their Technical Roadmap. Their next phase is due this July;
- Phase 3: Commercialisation Phase — July 2018
The goal is to offer a comprehensive platform of services after two phases of gathering feedback to improve the user experience. There is also expected to be an expansion of the team to handle this commercialization.
- Phase 4: User Experience Enhancement — October 2018
Encourage the users to try different blockchains on the Morpheus Labs platform to find the most suitable for their product function.
- Phase 5: Interoperability Between Blockchains — Future, 2019
Cross-chain platform interoperability. The ability to build products by handpicking functions from several different blokchains to maximize efficiency and usability.
Business Road Map
- Phase 5 — June 2018
Official sales partnership campaign for rest of Asia and UAE region.
Launch blockchain lab across Southeast Asia in all established and recognized innovation labs, accelerators, co-working spaces, colleges and universities.
- Phase 6 — Future
Launch blockchain lab across rest of Asia and UAE in innovation labs, accelerators, co-working spaces, college and universities.
Sales activities launch in the rest of Asia and UAE.
Bringing blockchain to the enterprises
Are you looking for a way to implement the blockchain technology in your business? If you have read this article, you have probably understood that Morpheus Labs is a natural place to start. Their platform is a stand-alone platform on the market, and it has the potential to be dominant in the task of making blockchain go mainstream among enterprises worldwide.
NCG will follow the Morpheus Labs project and the platform closely, and we look forward to observing what their platform can bring to enterprises in the upcoming months, years, and perhaps even decades.